Calendrier du 06 mai 2019
Roy Seminar (ADRES)
Du 06/05/2019 de 17:00 à 18:30
Salle R1-09, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
WEBB Duncan (PSE)
Pairwise Normalization: A Neuroeconomic Theory of Multi-Attribute Choice
écrit avec Peter Landry
We present a theory of multi-attribute choice founded in the neuroscience of perception. According to our theory, valuation is formed through a series of pairwise, attribute-level comparisons implemented by (divisive) normalization — a normatively-grounded form of relative value coding observed across sensory modalities and in species ranging from honeybees to humans. As we demonstrate, “pairwise normalization” captures a broad range of behavioral regularities, including the compromise and asymmetric dominance effects, the diversification bias in allocation decisions, and majority-rule preference cycles (among several others). In binary choice, the model also offers a potential neurobiological foundation for Cobb-Douglas preferences and other classic microeconomic preference representations.
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Régulation et Environnement
Du 06/05/2019 de 12:00 à 13:00
salle R1-13, campus Jourdan, 75014 Paris
FABRE Antoine ()
Can We Reconcile French People with the Carbon Tax? Disentangling Beliefs from Preferences
écrit avec Thomas Douenne
Using anewsurvey and National households’surveydata, we investigate French perception over
carbon taxation. We find that French people largely reject a tax and dividend policy where revenues
of the tax would be redistributed uniformly. However, their perception about the properties of the tax
are biased: people overestimate the negative impact on their purchasing power, wrongly think the
scheme is regressive, and do no tperceive it as environmentally effective. Our econometric analysis
shows that correcting these three bias would suffice to generate majority acceptance. Yet, we find
that people’s beliefs are persistent and their revisions biased towards pessimism, so that only few
can be convinced.